auto insurance telematics News

Telematics CEO: 5 Trends to Watch in 2018 in Auto Insurance

Auto insurance is experiencing its most seismic shift since it began over 100 years ago. If 2017 shook up the industry with an increasing number of carriers adopting mobile telematics programs for UBI, 2018 will break the mold. Carriers will …

Octo Telematics Buys Usage-Based Insurance Assets of Willis Towers Watson

Octo Telematics, the the London-based provider of telematics for the auto insurance industry, announced it has completed its acquisition of the usage-based insurance (UBI) assets of Willis Towers Watson, which was announced on Oct. 11, 2017. The financial details of …

Octo Telematics to Buy Usage-Based Insurance Assets of Willis Towers Watson; Partnership Announced

Octo Telematics, the London-based provider of telematics for the auto insurance industry, announced it will acquire the usage-based insurance (UBI) assets of Willis Towers Watson and will create a partnership with the broker to develop insurance products. These UBI assets …

Startup Auto Insurer Root Expands by 2 States, Pairs with Lyft on Rental Coverage

Startup telematics-based auto insurer Root is now offering rental coverage in partnership with ridesharing firm Lyft. For policyholders with short-term needs for alternate transportation after an incident, Root will now offer a choice between a rental car or a comparable …

Verisk Teams with Driveway Software on Smartphone Telematics for Autos

Property/casualty insurance data supplier Verisk Insurance Solutions has formed a strategic alliance with Silicon Valley’s Driveway Software to jointly develop a smartphone telematics product for automakers, insurers and drivers. The product will combine the Driveway smartphone telematics platform for data …

Online Seller CoverHound Adds Pay-per-Mile Insurer Metromile

Online insurance comparison shopping agency CoverHound has announced a partnership with pay-per-mile auto insurance company Metromile to provide more coverage options for customers of both companies. The partnership gives CoverHound, which now operates its personal lines platform in all 50 …

Usage-Based Auto Insurance, Slow at First, Picking Up Speed

Usage-based auto insurance will explode globally in the next seven years, a new industry analysis asserts. IHS Inc.’s IHS Automotive predicts that 142 million customers will sign up globally for the telematics-infused policies by 2023, up from nearly 12 million …

How Telematics Saves on Claims, Improves Customer Experience

Insurers that are not already using the data from their telematics programs for claims would be wise to do so early in their adoption of telematics as the task only becomes more difficult as more data is collected, according to …

Telematics Changing Drivers’ Behavior: Insurance Research

Telematics devices offered by auto insurers appear to working to change the behavior of drivers. More than half (56 percent) of the 1,135 drivers participating in an Insurance Research Council (IRC) public opinion survey said they have made changes in …

Usage-Based Insurance Overcoming Privacy Concerns, Gaining Traction

Consumers as well as commercial fleet managers are becoming more accepting of usage-based insurance (UBI) in which a telematics device is used to track driving behavior as safety and savings benefits appear to be trumping concerns over privacy. Personal auto …